The Huge Difference Between Odds and Probability
You have to understand that composition matters in a random game. Please understand that odds and probability are two different terms with two different equations. While all combinations may have the same probability, the composition of each combination has different odds that all lotto players must pay attention to.
By studying the composition of combinations, we’re entering the realm of combinatorial patterns. And combinatorial patterns reveal a certain ratio of success to failure.
As a lotto player, you don’t have the power to change the underlying probability. But you have control over your choice of odds.
What is the difference?
Probability refers to the measurement that an event will likely occur. And we measure the likelihood by using the formula:
We don’t use that formula if we want to obtain the odds. To get the odds, we use this formula instead:
In simple terms, the probability is the measurement of chance while the odds are the ratio of success to failure.
Therefore, the difference between odds and probability can be described in the following way:
Probability = Chance
Odds = Advantage
That is, we cannot control the chance, but at least we can choose a better ratio of success to failure.
As a EuroMillions player, your objective is to get better odds. Or in other words, be wrong less.
In a random event like the Euromillions game, being wrong less requires mathematical strategy. This article will not provide an adequate explanation on that subject, so I invite you to check out the complete guide (it’s free).
In this article, let me give you a gist of how to be wrong less through the study of combinatorial patterns.